Ukraine, United States discuss plan for restoration, protection of energy sector ahead upcoming winter

The discussion took place during a meeting between Ukrainian Finance Minister Sergii Marchenko and Richard Verma, the U.S. Deputy Secretary of State for Management and Resources, according to Ukrinform, citing the Ministry of Finance press service.

“Thanks to the direct budget support of the United States, we continue to ensure stable public administration in Ukraine and partially compensate for the social and humanitarian expenditures of the state budget. Ukraine uses the raised funds in a responsible, transparent and accountable manner. In addition to the urgent social needs of the state budget, we are also focusing the attention of our partners on the rapid recovery of Ukraine, which should begin already this year,” said the Ministry of Finance of Ukraine.

During the meeting, the parties discussed economic assistance and the plan for Ukraine's recovery. The focus was on two areas of assistance from the United States to support the rapid recovery. Firstly, ensuring the security of the energy system ahead of the next winter, including the restoration, decentralization, and implementation of "green" energy sector standards. Secondly, providing economic aid to facilitate Ukraine's trade reorientation towards the EU and to restore economic growth after the 30% decline in 2022.

Marchenko also emphasized the need to create favorable conditions for attracting private investments.

“The Government of Ukraine is currently working on creating a “healthy” environment for private sector investments. This will be underpinned by good governance, the rule of law and anti-corruption efforts. Ukraine is interested in private investments in defense, agriculture, IT, renewable energy, gas production and storage, logistics and construction”, emphasized the Minister of Finance.

As Ukrinform reported earlier, in September, the United States plans to announce an aid package for Ukraine for the year 2024. A assistance package of $60 billion is being considered.